After the formation of Alphabet, earnings for Google as we know it — search, ads, YouTube, Chrome, Nexus, Google Play, etc. — have been separated from some "Other Bets," such as Google Fiber and Nest. We'll break down how each segment performed, where applicable.

That being said, here are the big points in this quarter's earnings for Alphabet:

Revenue of $20.25 billion, up 17% year-over-year

Operating income of $5.34 billion

Operating margin of 26%

Net income of $4.2 billion

Operating expenses of $7.2 billion, 36% of revenues

Aggregate paid clicks were up 29% year-over-year, with paid clicks on Google's own websites going up 38% in the same period. Cost-per-click was down 9%, following the trend of the past few years, with cost-per-click on Google's websites being down 12% as well.

Rounding out the release, Alphabet reported that it has $75 billion in cash (and cash equivalents) holdings, which is an increase of $10 billion from Q1 2015. There were capital expenditures of $2.4 billion for the quarter, and the company's effective tax rate was 18%. Finally, Alphabet's employee count was a rather large 64,115, an increase of nearly 10,000 from the same time last year.

As it does each quarter, Google is also streaming its earnings call on YouTube starting at 4:30 p.m. ET, which you can watch below if you're interested in the gritty details of the business.